Artha Vijnana Journal of The Gokhale Institute of Politics and Economics · 1990 · 27 citations · 0 references
Social SciencesEconomicsEconomic PolicyMacroeconomicsMonetary EconomicsInflation PolicyMonetary PolicyMonetary Transmission MechanismInflation History
Inflation is a major issue in macroeconomics. It is also one of the most controversial subjects in economics. The debate between the monetarists and the non-monetarists on the control of inflation has a long history, and as of now there does not appear to be any consensus emerging on this. The basic contention of the monetarists is that inflation is essentially a monetary phenomenon : the result of excess supply of money over demand.